ouDsiiiuie  one 
Conf  Pam  12mo  #65. 


[ITousu  OF  Representatives — Secret  SEfsioN.] 

SUBSTITUTE 

Offered  by  Mr.  Lyons,  of  Virginii.  for  the  instructions  proposed  by 
Mr,  Lyon,  of  Alabann. 
To  report  a  bill  with  the  following  provisions  : 

1  1st.   To  compol   all  the  hollers  of  treisury  notes  to  fand   the 

2  same,  without  impairment  of  the  principal  thereof,  in  Confelerato 

3  bond-?  payable  thirty  years  after  date,  with  such  interest  as  tho 

4  said  notes  now  bear^  or  rmy  bo  entiled  to,  the   interest  to  cora- 
,    5  mcrjce  six  months  after  a  tre  ity  of  peace  with  the  Uiiite.l  States 

G  shall  be  concluded,  and  to  prohibit  the  circulation  of  all  uifunLd 

7  notes  as  currency. 

I  2.1  To  authorize  the  Secretary  of   tho   Treisury  to  sc'I    fri- 

1  vati^ly,  or  by  auction,  as  the  neces^-ities  of  the  Govern.nent  may 

3  require  him  to  do   so,  bonds  of  the  Confeder;>te  Governmoat  to 

4  the  amount  of  millions  of  dollars,  the  said  bonds  to 

5  be  in  such  sums  as  tho  Secretary  may  deem  necessary,  from 

6  twenty  dollars  upwards,  and  to  bear  interest  at  the  rate  of  six 

7  percent,  per  annum,  and  to  be  payabl*  thirty  years  after  <ljte. 

1  3d    To  authorize  the  Secretary  of  the  Treasury  to  issue,  as  iho 

2  necessities  of  the  Government  may  require  it,  treasury  notea  to 


3  the  amount  of  $2rO,000,00(\  in  sums  of  not  less  than  one  hnn- 

4  died  dollars.     And  also  to  report  a  bill  imposing  such  taxes  as 

5  ^.-ill  paj  the  inteicst  of  the  public  debt,  and  defray  the  oidinrry 
C  e:spcrise?  cf  the  Govcriiinont. 


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